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How is interest received for instruments held in dematerialised form?

April 26, 2017dematerialised form held instruments received

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How is interest received for instruments held in dematerialised form?

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Payment of interest is handled in the same way as corporate benefit like dividend in equity. List of beneficiary holders as on book closure date consisting of Holder Name and account number, address, bank details and DP ID is downloaded to the Issuer. Based on the information provided above, the issuer despatches interest warrants to the holders of dematerialised instruments.